Morgan Stanley reiterates SpaceX as overweight, citing a more attractive valuation, while Barclays reiterates AMD as overweight after the simultaneous acceleration of its CPU and GPU businesses. Citi upgrades Coupang to buy and downgrades Adobe to sell, saying consensus growth forecasts for Adobe face downside risk. Evercore ISI reiterates Apple as outperform because of its defensive profile, while Deutsche Bank reiterates CoreWeave as buy but lowers its price target from $150 to $125. Guggenheim initiates Lockheed Martin at buy with a $735 target, Cantor Fitzgerald initiates Netskope at overweight with a $28 target, and Jefferies initiates Core & Main at buy with a $53 target.
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